Atlassian Co. (NASDAQ:TEAM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $244.21.

A number of research analysts have issued reports on TEAM shares. BMO Capital Markets increased their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Oppenheimer boosted their price objective on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial increased their price objective on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Gene Liu sold 1,024 shares of Atlassian stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,642 shares of company stock worth $51,882,956. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Large investors have recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont raised its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in Atlassian during the second quarter worth approximately $36,000. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $262.46 on Friday. The company has a market cap of $68.35 billion, a price-to-earnings ratio of -172.67 and a beta of 0.71. The stock’s 50-day moving average is $202.56 and its two-hundred day moving average is $178.71. Atlassian has a 1-year low of $135.29 and a 1-year high of $269.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) earnings per share. Analysts forecast that Atlassian will post -0.54 EPS for the current fiscal year.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.